Marketing

Big Lots has elevated CFO Timothy A. Johnson’s to EVP, CFO. Johnson has served as financial chief since 2012 with primary responsibility for all financial disciplines within the company including financial reporting and controls, treasury, risk management, tax, internal audit, financial planning and analysis and investor relations.

Minneapolis - The Tile Shop has expanded its presence into New Mexico with the opening of its Albuquerque store. The Tile Shop’s new 22,000-sq.-ft. Albuquerque location features fully decorated, room-size displays — kitchens, baths, and other spaces within a home, as well as premium lighting and plumbing fixtures that allow homeowners to see what their Tile Shop tile and stone will look like installed in their home.

Supervalu directors Mark Neporent and Lenard Tessler have stepped down from the company’s board of directors as a result of Cerberus-owned Albertsons’ deal to acquire Safeway.

Neporent and Tessler were both appointed to the Supervalu board in 2013 as designees of Symphony Investors, a Cerberus Capital Management L.P.-led investor consortium. Symphony Investors owns approximately 20.9% of Supervalu’s outstanding common stock, and has the right to designate replacement directors for Neporent and Tessler.

Columbus, Ohio - Big Lots Inc. has promoted Timothy A. Johnson to executive VP, CFO. Johnson has served as CFO since 2012 with primary responsibility for all financial disciplines within the company including financial reporting and controls, treasury, risk management, tax, internal audit, financial planning and analysis, and investor relations.

New Albany, Ohio – Abercrombie & Fitch is reportedly planning to rebrand its Hollister banner as a fast-fashion retailer. According to the Wall Street Journal, this would entail lowering the prices of merchandise and creating a nimbler, U.S.-based supply chain.

New Albertson’s has acquired five Dominick’s locations and appointed Shane Sampson, currently president of the company’s Boston-based Shaw’s division, as president of the Jewel-Osco division based in Chicago.

Sampson fills the role that had been held by interim division president Jim Rice since January 2014.

Sampson’s first project highlights the company’s commitment to investing in Chicago: Remodeling and reopening five additional former Dominick’s locations.

Boston – Wayfair has raised $157 million in equity financing to fuel continued growth of the company's portfolio of home brands. The Series B investment round, led by funds and accounts managed by T. Rowe Price Associates Inc., encompassed a limited number of key investors, including growth-focused mutual funds, as well as a private investment from Julie M.B. Bradley, TripAdvisor CFO and Wayfair board member.

Pleasanton, Calif. — Cerberus Capital Managament, which owns Albertsons, won the bid for Safeway.

Safeway and Albertsons on Thursday announced a definitive agreement under which AB Acquisition will acquire all outstanding shares of Safeway in a deal valued at more than $9.1 billion. The transaction is expected to close in the fourth quarter of this year.

The companies will operate independently until closing.